Friday, May 28, 2010
Bad times cometh
Times: More people turn to credit to make ends meet
More than five million homeowners are turning to their credit cards to pay at least one household bill a month, a survey has revealed, prompting fears about the fragility of Britons’ personal finances in the wake of the recession.
The study found that 14 per cent of Britain’s 35 million credit card users have paid gas and electricity, phone and insurance bills with their plastic, while another 7 per cent admitted to taking out cash from an ATM on credit, incurring hefty fees
Posted by mark @ 11:51 AM (622 views) Add Comment
6 Comments
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1. Carrera said...
So what - I out everything on my credit card and pay it off at the end of each month - just been on a free Lamborghini driving experience from the points I hsve amassed over the year !!
2. str 2007 said...
Welcome Carrers
Nice to see another petrol head amongst us.
Quite agree with you, bit of a none story in my opinion.
BTW which credit card do you use - I think I might change.
3. Carrera said...
Hi STR
Have the MBNA rewards at the moment - and the other half as the Barclaycard Goldish rewards (which does give more to be honest)
To be honest, given the legal protection offerred by putting things on plastic as well as the possible cash back etc I think people are silly not to put everything on their cards .. but I agree this is a non story; now if there were masses of defaults or people being declined at record levels then we would have something of HPC standards !!
4. I Remember The 90`s said...
Carrera ,I do the same with a Tesco credit card in two years amassed enough points for a seven day cruise on P@O .
5. i remember the 90`s said...
Carrera ,I do the same with a Tesco credit card in two years amassed enough points for a seven day cruise on P@O .
6. holyroller said...
Most people who are struggling to make ends meet have already maxed out their credit cards anyway, so paying bills with them isn't usually an option, either is cash withdrawals.